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Acquisitions Mergers

SATL

Satellogic Inc. (NASDAQ:SATL) announced a $30M strategic investment from Tether Investments Limited through secured convertible notes issued by its subsidiary, Nettar Group, Inc. This investment, which provides Satellogic with additional operating liquidity and financial flexibility, is aimed at advancing the company's U.S. strategy, National Security market focus, and global Space Systems opportunities. The notes, bearing interest at SOFR plus 6.50%, are convertible into Class A ordinary shares at $1.20 each, subject to CFIUS approval, and are secured by the company's assets.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:10 pm

EQIX

Equinix, Inc. (NASDAQ:EQIX) and PGIM Real Estate have announced a $600 million joint venture to develop and operate the first xScale data center in the U.S., located in Silicon Valley. The facility, named SV12x, will offer over 28 MW of power capacity and is part of Equinix's global xScale data center portfolio, expected to exceed $8 billion and 725 MW across more than 35 facilities. PGIM Real Estate will hold an 80% equity interest, with Equinix holding the remaining 20%. This venture marks PGIM Real Estate's first investment through its global data center strategy.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:09 pm

ARQQ

Arqit Quantum Inc. (NASDAQ: ARQQ), a leader in quantum-safe encryption, announced that D2BW Limited, owned by Arqit's founders, will purchase 1,241,379 shares at $0.725 each, totaling about $900,000. This is part of an agreement allowing for up to 7,586,206 shares to be bought at the same price, dependent on additional loan proceeds. Founders David Williams and David Bestwick now own 30.5% of Arqit's shares. The transaction underscores their confidence in Arqit's technology and commercial potential.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:08 pm

EQNR

EQT

EQT Corporation has agreed to sell a 40% interest in its non-operate natural gas assets in Northeast, PA, to Equinor USA Onshore Properties and affiliates for $500M in cash and upstream assets. The assets EQT will receive include approximately 26,000 net acres in Monroe County, Ohio, and 10,000 net acres in Lycoming County, Pennsylvania, with expected net productions of ~135 MMcfe/d and ~15 MMcfe/d by 2025, respectively. Additionally, EQT will gain a 16.25% ownership in EQT-operated gathering systems in Lycoming County and a gas buy-back agreement with Equinor through Q1 2028.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:06 pm

MCHP

Microchip Technology has completed the acquisition of Neuronix AI Labs, although the financial terms of the deal were not disclosed. This move could potentially enhance Microchip's capabilities in the AI sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:04 pm

VCIG

VCI Global Limited (NASDAQ:VCIG) has acquired two AI gamification platforms, ENGAGE and Interact, from a UK-based developer, aiming to tap into the growing mobile advertising market projected to reach $400 billion by 2024. These platforms, which have shown significant user engagement and brand partnerships during trials, are expected to open new monetization channels for VCIG in brand marketing globally. The acquisition aligns with VCIG's strategy to expand its technology venture portfolio and anticipates future Nasdaq listings for these platforms.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:02 pm

STGW

Stagwell (NASDAQ:STGW) has announced the acquisition of Brazil-based PROS Agency, a brand and marketing consultancy. This move aims to enhance Stagwell's presence in Brazil and the broader Latin America region, integrating PROS into Allison, a global marketing and communications consultancy within Stagwell. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:52 am

MPW

Medical Properties Trust's shares are trading higher following the announcement of the sale of its majority interest in Utah Hospitals.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:45 am

CRM

Salesforce shares are trading lower after reports emerged that the company is considering acquiring Informatica. This news has led to a negative reaction in the market, impacting Salesforce's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:43 am

APG

APi Group has announced a definitive agreement to acquire Elevated Facility Services Group for approximately $570 million in cash, subject to adjustments. This acquisition is aimed at expanding APi's leadership in safety services, particularly in non-discretionary, regulatory-driven applications. It is anticipated to add around $220 million in annual revenue and be accretive to APi's '13/60/80' shareholder value creation framework, thanks to Elevated's strong EBITDA margin, significant revenue from inspections, service, and repair, and an efficient, asset-light business model. The deal is expected to close in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:32 am